U.S. Congress passes anti-clean energy budget bill: An industry reacts

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The U.S. Congress has passed the "One, Big Beautiful Bill Act," which significantly reduces funding for clean energy initiatives, including the early termination of tax credits for solar and wind projects. Under the new budget, projects placed in service after December 31, 2027 will no longer qualify for these credits, and residential solar tax credits will only apply to projects completed by the end of this year. The bill also imposes stricter requirements for domestic content in projects and cuts the electric vehicle tax credit, marking a shift away from previously bipartisan support for clean energy.

Industry leaders have expressed strong discontent, warning that these cuts threaten thousands of jobs and disrupt the burgeoning energy manufacturing sector. Executives from various clean energy organizations argue that the bill undermines investor confidence and raises energy costs for consumers. Despite these challenges, some industry representatives remain optimistic about the future of clean energy, emphasizing the need for stable tax policies and continued investment to meet the growing electricity demand in the U.S.